We present a model capable of explaining 200 years of declining fertility, 200 years of rising educational achievement and a significant Baby Boom for the United States and twenty other industrialized market countries. We highlight the importance of secularly declining young adult mortality risk...

In modern firms the use of contests as an incentive device is ubiquitous. Nonetheless, experimental research shows that in the laboratory subjects routinely make suboptimal decisions in contests even to the extent of making negative returns. The purpose of this study is to investigate how...